Samantha Rowan
With a looming threat of inflation, the sector is starting to feel like a safer bet.
The firm sees a dearth of available capital for mid-market bankruptcies, for DIP financings of $50m or less.
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The partners have an initial $500m of lending capacity and could see that increase as opportunities arise.
The Denver company sees more liquidity for larger one-off transactions and portfolio deals.
Avison Young’s Tri-State Debt & Equity Finance Group arranged the Times Square-area financing.
The bank wants to work with developers who have a broader vision for community development.
The company is seeing more conventional lenders entering the market.
The advisory’s parent company Black Bear Asset Management also made a preferred equity investment.
The investment comes as the firm is carving out a niche in originating preferred equity to finance large-scale portfolio acquisitions.